USD 94.96 billion
Diamond Market Size, Share, Growth Analysis, By Type(Synthetic, and Natural), By Product(Rough, and Polished), By Application(Jewelry & Ornaments, and Industrial), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15M2007 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
114
|Figures:
77
Diamond Market Insights
Diamond Market size was valued at USD 99.08 Billion in 2023 and is poised to grow from USD 103.44 Billion in 2024 to USD 146.07 Billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).
Diamonds are the hardest material with the highest thermal conductivity on Earth, and is known for its divine nature as a gemstone; and are known as a material for cutting and grinding tools because of their paramount hardness. In addition, diamonds are formed with the high pressure and temperature conditions. The value chain of the diamond market involves upstream, midstream, and downstream procedures. The upstream procedure such as exploration, production, and sorting of rough diamonds.
The midstream procedure such as cutting, and polishing of rough diamonds for making finished products. The downstream procedure such as jewellery designing, and setting from the polished diamond and others.
The growing demand from jewellery applications most importantly in emerging economies in Asia Pacific including India and China can significantly drive the diamond market over the forecast period (2024-2031). China is the utmost consumer of mined diamonds according to past records. Due to the increasing advancement in technologies, the country is expected to become a leading producer of synthetic products.
US Diamond Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Natural
Fastest Growth
Natural
Growth Rate
4.4% CAGR
Global Diamond Market ($ Bn)
Country Share for North America Region (%)
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Diamond Market Segmental Analysis
Global Diamond Market is segmented by Type, Product, Application and region. Based on type, the market can be segmented into Synthetic, and Natural. Based on Product, the market is segmented into Rough, and Polished. Based on Application, the market is segmented into Jewelry & Ornaments, and Industrial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Diamond Market Analysis by Type
In the dynamic landscape of the diamond market, Type Ia diamonds emerge as the dominant segment, representing a significant portion of global diamond production and consumption. Their prevalence is notably driven by their abundance and widespread distribution across various diamond mining regions. However, amidst this dominance, Type IIa diamonds have emerged as the fastest-growing segment. Renowned for their exceptional purity and rarity, Type IIa diamonds command premium prices in the market, attracting increasing demand from discerning consumers and investors alike.
Diamond Market Analysis by Application
Based on application, the diamond market is segmented into jewellery & ornaments, and industrial. The increasing population, primarily the middle-class coupled with increasing spending capability of millennials and generation Z are the key factors driving the growth of the jewellery segment.
For industrial usage, synthetic products have significantly higher penetration. Industrial diamond is used as an abrasive; and the demand from metal machining, construction, and exploration drilling is increasing continuously and will continue the same over the aforementioned forecast period.
Global Diamond Market By Type
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Diamond Market Regional Insights
North America is the largest market among all the regions owing to the product demand for various industrial applications such as construction, machinery manufacturing, and mining services (exploration and drilling for oil, natural gas, and minerals). Precision machining of ceramic parts for laser radiation equipment, and heat sinks in circuits are assumed to uplift the demand for synthetic diamonds and related products in industrial application. The United States majorly leads as the biggest consumer of diamonds and similar products as compared to other countries. The US is also one of the leading producers of synthetic industrial diamonds.
Europe is however, holding the second position in the market due to the rising demand for fine jewellery and rings, bracelets and other jewellery pieces for various occasions like wedding, engagement, and birthdays in the region.
Asia Pacific (APAC) is an emerging region thanks to the millennials of the region, contributing to the market share; and the increasing industrialization is growing the demand of the market in the region.
Global Diamond Market By Region
- Largest
- Fastest
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Diamond Market Dynamics
Diamond Market Drivers
High Social Media Influence is Majorly Boosting Market Growth
- Due to the increasing personal disposable income, the living style has predominantly increased with respect to the high spending capability by most millennials across the globe. The modernisation in technology brought traffic on ecommerce sites for buying luxurious products that can satisfy. All of this is favouring the demand for the exotic products that can contribute to the growth of the global diamond market in the next few years.
Diamond Market Restraints
High Cost Fluctuation to Hinder Market Growth
- Fluctuations of the prices of diamonds because of the high cost incurred in their extraction and the high demand for products may likely hamper the market growth to some extent. These fluctuations occurred due to consumer perception, rough diamond production, changing behaviour in buying patterns, and currency up-downs.
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Diamond Market Competitive Landscape
Global diamond market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Diamond Market Top Player's Company Profiles
- De Beers Group (United Kingdom)
- ALROSA (Russia)
- Rio Tinto Diamonds (Australia)
- Dominion Diamond Corporation (Canada)
- Petra Diamonds (United Kingdom)
- Lucara Diamond Corporation (Canada)
- Gem Diamonds (United Kingdom)
- Mountain Province Diamonds (Canada)
- Gemological Institute of America (United States)
- Graff Diamonds (United Kingdom)
- Harry Winston (United States)
- Tiffany & Co. (United States)
- Chow Tai Fook (China)
- Rosy Blue (Belgium)
- Chow Sang Sang (Hong Kong)
- Blue Nile Inc. (United States)
- Signet Jewelers Limited (United States)
- Swarovski Group (Austria)
- LVMH Moët Hennessy Louis Vuitton SE (France)
- Kering SA (France)
Diamond Market Recent Developments
- In September 2022, Raj Diamonds launched an exquisite collection of diamond jewellery which includes rings, earrings, pendants, and other handcrafted jewellery pieces. Its exquisite range of jewellery is the perfect balance between traditional charm and contemporary appeal.
Diamond Key Market Trends
- The diamond market is growing owing to adoption of lab-grown diamonds for jewellery. As the cost of production is low, the retail prices of lab-grown diamonds resulted in a significant downfall. In fact, the retail price of lab-grown gem-quality diamonds has nearly halved since 2016. Moreover, prices may go down further as the production efficiencies improve and the new competitors enter the market. According to the International Grown Diamond Association (IGDA), there is a huge potential for lab-grown diamonds in jewellery applications.
Diamond Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global diamond market analysis, MEA is assumed to witness some moderate growth owing to the Panama Diamond Exchange jewellery trading centre over the said period.
The development of new diamond based industrial products, and increase of diamond sale through e-commerce business can significantly create good opportunities for the market over the forecast timeline. The increased popularity for lab-grown synthetic diamonds is anticipated to drive the market growth largely. However, the volatility of product prices negatively affects the profitability of diamond manufacturers. Imports' limitation of rough diamonds from disputed areas can hamper the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 94.96 billion |
| Market size value in 2031 | USD 139.91 billion |
| Growth Rate | 4.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Diamond Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Diamond Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Diamond Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Diamond Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Diamond Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Diamond Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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